Wow does it feel good waking up to a large lump sum of money. On Friday, you saw that for the first time in my blog, I held onto my positions over the weekend. I’ll be frank, it was nerve-racking indeed. However, had I not held on, I would’ve had a pretty big negative day on Friday. My analysis told me the EUR and GBP was overbought and that the dollar was about to burst onto the upside. I was positive the dollar was oversold due to news and not fundamentals. Thankfully, everything ended well.
With that in mind, I’ll be long dollar this week, unless the upcoming data tells me otherwise. There are predictions among Wall Street that dollar drop is soon to end, and the Euro will eventually fall. Let’s keep our eyes open for the drop. Moral of the story, simply, never give up.